In the hard-hit commercial property market, particularly from the multi-family sector, plagued by innumerable problems of weak economy; tight credit market; and fewer new home sales, here is the story of WCI Communities Inc. returned from a trip to Bankruptcy Court and emerged triumphant in the Florida market. Its new multi-family project – Pelican Preserve [...]
It is an open secret that Texas and particularly its capital Austin are in the fore-front, in the march towards recovery from the downturned market conditions. The reasons are well-founded – a steady economy not much perturbed by the pitfalls of the mortgage crisis, as in the case of other metro cities; job growth in [...]
Commercial property foreclosures were not in the glossary or knowledge of American people – until the devastation of mortgage crisis in residential real estate hit them hard. While a home is foreclosed only a family is denied of shelter under their head, but when a commercial property like a beach resort is foreclosed, it being [...]
It needs no elaboration how the commercial property real estate got a beating and is still lingering on the downside. It all started in 2007, closely following the footsteps of the residential real estate going down the hill – courtesy mortgage crisis. The impact of the doom was so heavy, it reflected in the whole [...]
Woes suffered from the mortgage crisis are not yet over it seems, in the commercial real estate property market across the country. Yes – the year 2010 is not that bad as it was in 2008, since we are seeing more encouraging activity in the multi-family housing and industrial production for the last few months. [...]
In a down-turned commercial real estate market, hit by the credit-squeeze for the last two years, things get a different perspective. Every bit of news on the positive side is welcome – so far as they do not carry a set-back or discouragement to kill the confidence of Real Estate Investment Trusts (REITs), who are [...]
History has it whenever people face hurdles they find out their own way – either to cross the hurdles or circumvent them. This is what happening in the commercial property business, in respect of constructing brand new office-buildings vertically through skyscrapers rather than horizontally. Yes – the financing is scarce; so what? Developers still find [...]
Fountain Lake – an ambitious project for affordable housing for people in the essential services, located in Naples area, Florida stands testimony for the miseries caused by the foreclosure crisis. It is rather unbelievable but factual story, where a property worth $9.75 million contracted for purchase by the developer, ultimately repossessed by the lender for [...]
If you have any doubt how the commercial real estate market can be affected by the ups and downs of the residential one, please see this. While residential real estate is one which deals with properties for the residence of one family, it gets the status of commercial when homes are constructed, sold or bought [...]
It has become a common occurrence for a few years of late that multi-family and condo projects started are abandoned midway, due to financial problems. The mortgage lenders initiate foreclosure action against the developer or project owner, who is in distress and defaults in the mortgage commitments. While the lender gets salvage value of the [...]
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